If you are looking to buy Litecoin in Singapore, there are some questions and things to consider before making your purchase. Let’s start with the best places to buy Litecoin in Singapore. In addition to this, you will also want to know more about Singapore’s cryptocurrency regulations and the tax implications of investing in Singapore.
These are all areas we will cover here, as well as the top 3 exchanges where you can buy Litecoin in Singapore.
If you want to learn more about Litecoin, check out our guide to investing in Litecoin.
How to buy Litecoin (LTC) in 4 steps
The entire process takes just 10 minutes and all you need is your smartphone or computer, a photo ID, and a means of payment.
Compare Cryptocurrency Exchanges – List of top crypto exchanges where you can buy Litecin (LTC) cryptocurrency. Create an account – Verify your email address and identity. Deposit – Purchase with debit card, credit card, wire transfer, or Bitcoin. Litecoin – Use your funds to buy LTC.
Best place to buy Litecoin in Singapore
Paybis is a very reliable starting point for buying Litecoin (LTC) and other cryptocurrencies in Singapore. They have been around since 2014 and have helped many traders get started with crypto trading due to the convenience of being able to purchase with just a credit or debit card.
When purchasing through Paybis, a third-party wallet is required as it only facilitates the transaction, but the company says the entire sign-up process takes less than 15 minutes. This includes a series of highly transparent and convenient KYC checks to ensure regulatory compliance and a secure trading experience.
The company is a truly global company, serving not just Singapore but more than 100 countries around the world. The fees charged here are good value and competitive compared to other companies in the field, depending on the payment method used.
Paybis also offers a wide range of educational content on all aspects of cryptocurrency trading, which can be very helpful for beginners in the field.
Paybis offers Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Shiba Inu (SHIB), Tether (USDT), Binance (BNB), Neo (NEO), Tron (TRX), etc.
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Kraken is one of the oldest cryptocurrency exchanges in the industry. They have been operating for over 10 years, which has earned them wide respect among traders within the industry. They offer trading of Litecoin and many other cryptocurrencies around the world, including within Singapore.
Two of the very popular and unique trading features found at Kraken are the ability to trade crypto futures and the opportunity to participate in crypto margin trading with a wide range of leverage up to 50:1. This is perfect for more advanced traders and can also be done through the innovative Kraken trading platform.
Trading platforms are available to suit different levels of trading experience, so no matter what level you’re trading at, you’ll know that Kraken has you covered. Anyone can use it with confidence, from complete beginners to veterans.
At Kraken, you’ll also find: A wide range of over 40 cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and more.
For more information, you can always check out our full Kraken review or visit the Kraken website directly to learn more.
Binance is one of the top names in the world when it comes to cryptocurrency exchanges. They are highly trusted and regulated in Malta under the Malta Virtual Financial Assets Act, giving traders further protection beyond their excellent reputation.
You can now buy Litecoin and many other cryptocurrencies offered by Binance directly and instantly using your credit or debit card, along with convenient methods such as direct bank transfer. These fees are a bit higher than using an exchange, but are still very competitive, ranging from 1% to 3.5% depending on the method. When trading with exchanges, we charge industry-low flat fees starting at 0.1%.
If you want to start trading here, you will find that the verification process is also very fast and convenient. Just upload a few basic documents electronically and you’ll be fully verified in just a few minutes. Binance also has one of the widest range of cryptocurrency services available in this space. Over 100 of the most popular cryptocurrencies are all available here, and you’ll also find many altcoins and our own native Binance Coin (BNB).
It also offers an easy-to-use trading platform with several different trading views that can be adjusted to suit your experience level.
On Binance, you can also find: Other cryptocurrencies that can be traded include all major coins and a wide range of altcoins.
Check out our Binance review or visit the Binance exchange to sign up. Use discount code: EE59L0QP to claim 10% cashback on transaction fees.
Singapore virtual currency regulations
The first important question you might ask here revolves around the legality of cryptocurrencies in Singapore: Is Litecoin legal in Singapore?
Litecoin, like trading many other cryptocurrencies and operating crypto exchanges and services, is completely legal in Singapore. In fact, Singapore and its market regulator MAS have a more open approach to cryptocurrencies than many other countries.
Over the past year, the regulation and approach to Litecoin and other cryptocurrencies in Singapore has evolved with the implementation of the Payment Services Act. This essentially provides an operational framework for companies operating and providing Litecoin and crypto services to be regulated and licensed under the MAS.
The Act also serves to support the development and use of various KYC and AML processes. Overall, it can be said that Singapore has a very balanced and friendly approach to cryptocurrencies in general, while also ensuring a safe and secure trading environment to participate.
Singapore virtual currency taxation
Regarding Singapore virtual currency tax, virtual currency profits in Singapore are not taxed. This is because there is no capital gains tax in Singapore.
Having said that, if you pay or receive Litecoin or other cryptocurrencies as payment, you will have to pay Goods and Services Tax, Singapore’s version of VAT, which is currently 7%, and the current maximum income tax. twenty two%.
We are not tax accountants. Tax systems are constantly evolving. It is important that you perform your own due diligence and consult a qualified tax consultant regarding tax matters.
